Chainlink Bounces Off Bitcoin, Targets 2400 Sats Amid Uptrend
Chainlink's price action has caught the attention of traders, particularly @CryptoMichNL, who notes that it is in an uptrend against Bitcoin. This trend suggests a dip purchase opportunity for investors looking to get in on the rising asset.
The current price of Chainlink sits at $11.42, within the boundaries of its Bollinger Bands. The upper resistance level stands at $12.01, while the lower support is at $11.12. The 50-day exponential moving average (EMA) and 200-day EMA are anchored at $11.31 and $9.94 respectively.
The Relative Strength Index (RSI) is currently neutral at 47.22, indicating a measured pullback towards the 50-EMA before Chainlink continues its upward trajectory toward the target of 2400 sats, which equates to over $20 for one LINK token.
A MACD death cross at -0.02 further supports this view, suggesting that Chainlink's price will continue to rise in the ongoing prediction cycle.